Panther Securities Share Discussion Threads

[russman] 21/4/2018 11:33

The cash is rolling in.Use it for a share buyback.

[ntv] 20/4/2018 11:10

my recent purchases don't seem to show up for some reason though not really bothered

[ntv] 18/4/2018 19:42

and all the way back down again

[russman] 18/4/2018 12:39

Start a share buyback program.It does not have to be big.

[ntv] 18/4/2018 09:01

Looks like the yield will be over 6% for the nextext couple of years.now sitting at one the largest discounts in the sector

[ntv] 16/4/2018 22:15

the exit yield was very low at around 4%

topvest
they are calling it a special dividend so i am presuming we will get a final as well though the interim was raised.
they seem to mix and match the dividend so i guess the total will be the same as previous years
hoping we will get another special dividend next year because of the sale of the Birmingham
other pockets of land up for sale as building plots
anyone know if they have got planning for the increased size of the Swindon site as i haven't found anything recently

[topvest] 16/4/2018 21:28

Yes, absolutely. Think Perloff is a cautious man when it comes to valuations. A nice 10p dividend as well, although a bit confusing on whether there is a final 2017 dividend as well? I suspect not.

[ntv] 16/4/2018 16:55

another nice sale well above asset level

[ntv] 09/3/2018 09:01

not sure what they can do as Mr Perloff owns so much of the equity
i suppose they could buy back and not cancel the shares
A nice increase in the dividend would help as it hasn't increased for a while
Not really keen on special dividends as they don't do much except increase your tax bill

[russman] 08/3/2018 11:02

The spread is too big.The volume traded is small.If the deal completes; should be spare cash.Buyback to close the discount.

[topvest] 07/3/2018 21:13

Thanks NTV. Yes, happy to hold even if its just to read Perloff's ramblings. Returns over the last decade have been quite poor though really.

[ntv] 07/3/2018 19:22

i notice the Maldon site is now up for rent at £1m per annum
I know they said no residential but maybe in the future

[ntv] 07/3/2018 19:18

topvest
no property company appears to be doing that at the moment
completion of sale of Birmingham site might well give it another boost
news on Wickford and Swindon sites in the next few months maybe

[topvest] 07/3/2018 18:27

Good news. Shows that Perloff valuations were on the prudent side. Hardly surprising I suppose given he’s a deep value property man. I suppose we will have to wait and see what happens to Beales. Think Panther will continue to do OK though whilst not setting the world on fire!

[ntv] 07/3/2018 14:54

presuming nett assets well over £5

[ntv] 07/3/2018 14:01

don't think so bob!

[russman] 07/3/2018 12:01

Is it a typo.Profit after tax 20m?

[ntv] 07/3/2018 08:04

guess that depends on the sale

[ntv] 07/3/2018 08:03

nice update but no news on the dividend

[russman] 22/2/2018 11:01

LAS has sold its share of Brixton Village at a considerable premium to nbv.I will have to check PNS had part of that block at some stage.

[simon templar qc] 03/2/2018 20:39

This is what Perloff said in his latest ramblings...

"“THE EVIL THAT MEN DO LIVES ON AFTER THEM”

"We have begun to notice that a few of our tenants, including MultiYork, have begun to experience difficulties and although new lettings continue to take place, the recent failure of Palmer & Harvey, a large and old established business, indicates the direction of travel."

Check out Stokers furnishings a private company who make at least 10% profits with their furniture company!

The difference is Stokers own all their freeholds!

Its the extortionate rents from greedy landlords which are shutting down stores!!

So when Panther brag about the high yield they are getting buying shopping centres have a good think about the sustainability of what they are doing!

Have a browse at the rents and rates and service charges with the link I gave for Wayfarers and you will see the red flags staring at you in the face.

[simon templar qc] 03/2/2018 20:28

Panther lost its second largest rental after Beales with the company purchase of Wayfarers...




The 2 floors are now empty after Multiyork exited after Christmas. Strangely enough it not even being marketed at the moment, Panther wont know what to do with 2 large floor spaces. Another retail unit is set to close down and the others are probably struggling. The rent and rates and service charges too high for any start up business. Beales is struggling, Panther bought a white elephant with Wayfarers, because of its listed status it cannot be converted to flats, he tried that with a Beales store in Bournemouth and it was refused.

Chickens coming home to hatch for Perloff he though he had been clever buying Beales on the cheap after the company got rid of Peters now he is stuck with a department store with huge debts. if Beales shuts his purchase of Wayfarers will have lost its prime tenant!

[ntv] 06/1/2018 10:16

do enjoy reading his ramblings but don't always agree with him though! must get to an agm sometime. maybe this year but it is not good for my vertigo in a busy place

[ntv] 06/1/2018 10:12

a lot these old department stores have have top floors that are redundant now. trouble is some are listed but a lot can be converted to residential flats to maybe sold and/or rented out.or offices even in prime locations. department stores failed to adapt for to changing high streets. left their food hall and coffee shops up stairs instead of bringing them downstairs. should have looked at costa cofee concept and how quickly it expanded.coffee shops would have bought a lot of customers in to the ground floor. the punters are then in your shop. Debenhams is a classic as it still often has a perfume shop at the front.old hat and failing. just one of their many failings. Renting out larger spaces to other retailers would have turned them landlords rather than all down to just retailing. some listed properties only have small areas/sections which make it difficult get a decent area for a retailer to use. hence one or two year shops as i call them. some are trying to adapt but not sure how they are fairing. colchester co-op now has subway, m&co and boots inside it. another local. the real assett as we know is the property itself just got to make it work.

[topvest] 05/1/2018 19:20

Hi NTV - yes, still holding here. Really enjoy Perloff and his ramblings. Unfortunately, his investment performance has been disappointing over the last 5 years and that explains the discount. Too much investment in value trap scenarios like Beales. Happy to hold though.